. >> john whittingdale, my friend agrees. but there's there is almost no universal agreement that we must have a stronger regulator and it must be seen to be independent and that it must be established as quickly as possible. however, can i very strongly welcome my friend's statement. the question of whether or not the regulator should have statutory underpinnings, something the parliament needs to consider carefully. perhaps the effectiveness by this committee, we should only proceed to legislate if it becomes absolutely clear that it will not function properly without that. >> i think my honorable friend makes an important point. he has probably spent more time looking at this issue than almost any member of this house of commons. what matters is the enormous consensus there is about what independent regulation should consist of. the powers that are necessary. we all need proper investigation and prominent apologies. that is what victims deserve and that is what we must put in place. he is right, we need to think carefully